- •1. Study key terms and their definitions before reading Text a & b:
- •2. Match the terms with their definitions.
- •Read the text to be ready to answer the questions given after the text:
- •Vocabulary practice
- •Find in the text English equivalents for the following word combinations. Write your own sentences using them.
- •Give Ukrainian equivalents for the following word combinations.
- •Answer the following questions:
- •The italicized words in the sentences below are found in this unit. Study the sentences. Then identify the part of speech and write your own definition for the word on the line provided.
- •Complete the table with word families.
- •In each set of words, cross out the word that does not have a similar meaning to the first. Compare your answers with another student. Discuss why the words are similar.
- •A) Study more word combinations with “market”.
- •VIII. Find the most appropriate word to complete the sentences.
- •IX. Translate into English:
- •X. Complete the table:
- •I. A) Before you listen, discuss the following with you partner:
- •II. A) Before you listen, discuss this question with your partner.
- •Read the following text. For each gap choose the best word a, b, or c. Make up a plan of the text. Before reading study the following economic terms:
- •II. You are going to read the text about the market.
- •Markets
- •III. A) Read the following text and write short headings for each paragraph.
- •IV. Scan the text. Title it and prepare a brief summary of the text.
- •Text b Types of monopolies
- •Find in the text English equivalents for the following word combinations. Write your own sentences using them.
- •Give Ukrainian equivalents for the following word combinations.
- •Answer the following questions:
- •Types of Market Failures
- •1. Mark these statements t (true) or f (false) according to the information in the text. Find the part of the text that gives the correct information.
- •Dealing with externalities
- •When business merge
- •The Role of Government
- •Improve economic efficiency
- •Реальні та ідеальні ринкові структури
- •I. Complete the words below to match the following meaning.
- •II. Choose the correct variant:
Complete the table with word families.
-
Verb
Noun
Person
share
shareholder
compete
competition
advertising
advertisement
advertiser
promote
promoter
supply
In each set of words, cross out the word that does not have a similar meaning to the first. Compare your answers with another student. Discuss why the words are similar.
1. share part portion dividend
2. huge gigantic smart large
3. meet enter satisfy fulfill
4. conduct carry on do run
5. enhance improve increase deteriorate
6. raise decrease lift increase
7. lack shortage quantity scarcity
8. rare usual scarce infrequent
10. compete rival contest accord
11. require satisfy demand call for
12. include omit contain involve
13. match agree meet resemble.
VI. You can talk about the people or organizations who buy particular goods or services as the market for them, as in the “car market”, “the market for financial services”, etc. Buyers and sellers of particular goods and services in a place, or those that might buy them, form a market.
If a company:
enters penetrates
|
|
it starts selling there for the first time. |
abandons gets out of leaves |
|
it stops selling there. |
dominates
|
a market |
it is the most important company selling there.
|
corners monopolizes |
|
it is the only company selling there. |
drives another company out of |
|
it makes the other company leave the market, perhaps because it can no longer compete. |
Choose the best word to fill each gap.
We are well known in America, but now we want to ___ the European market.
A compete B entrance C penetrate
2. The world’s soft drinks market is ___ by Pepsi and Coca-Cola.
A dominated B segmented C shared
3. We were ___ out of business by the large supermarket chain.
A left B driven C abandoned
4. We bought out our only competitor so we could ___ the market in coffee.
A corner B front C edge
5. European films do not export well: European movies barely ___ the US market.
A abandon B corner C penetrate
6. In the 1970s, Kodak ___ the instant photography market, until then ___ by Polaroid.
A cornered B entered C left
D abandoned E dominated F penetrated
7. The Hunt brothers tried to fix silver prices and to ___ the silver market, ___ all competitors.
A corner B enter C leave
D entering E driving out F monopolizing
8. In the 1940s, MGM ___ the market on film musicals. But by the late 1950s, Warner Bros had also started buying film rights to musicals.
A abandoned B got out of C monopolized.